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Regulators close banks in Colorado, Mich., Minn.
AP/Myway.com ^
| 10/3/09
| TIM PARADIS and MARCY GORDON
Posted on 10/03/2009 8:36:13 PM PDT by Kartographer
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To: wafflehouse; Leisler; PAR35; TigerLikesRooster; AndyJackson; Thane_Banquo; nicksaunt; ...
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The Money, Banking, and Financial Markets Ping List. "Money, not morality, is the principle commerce of civilized nations." Thomas Jefferson FR Keywords: moneylist, bankinglist, financelist Please tag all relevant threads with the aforementioned keywords. This can be a very high-volume ping list at times. Ping list jointly pinged by rabscuttle385 and TigerLikesRooster. To join the ping list: FReepmail rabscuttle385 with the subject line add moneylist. (Stop getting pings by sending the subject line drop moneylist.) |
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2
posted on
10/03/2009 8:38:04 PM PDT
by
rabscuttle385
(Kick corrupt Democrats *AND* Republicans out of office in 2010!)
To: Kartographer
FDIC’s out of money, right?
3
posted on
10/03/2009 8:44:15 PM PDT
by
GOPJ
(MSM BIAS: the most grossly obvious facts can be ignored when they are unwelcome. George Orwell)
To: Kartographer
Huntington isn’t doing well at all. I used to work for Huntington many years ago and have kept an eye on the company. Sadly, it is rated very poorly now and is on the brink to disaster, IMHO.
To: GOPJ
I understand that they are broke or nearly broke. I also have been told that they are a good number of ‘zombie’ banks, banks that need to be closed and would have been already, but for the fact that the FDIC is so far under itself it can’t cover the losses.
5
posted on
10/03/2009 8:56:13 PM PDT
by
Kartographer
(".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
To: Kartographer
The (newly) traditional Friday night financial fricassee.
6
posted on
10/03/2009 9:07:22 PM PDT
by
Iron Munro
(I carry a gun because IÂ’m too young to die and too old to take a beating.)
To: Kartographer
Just wait until all those big farms in the San Joaquin Valley default because they have no crops from lack of water. To save a minnow. We’ll not only feel it in the financial industry, but in the grocery store prices too.
7
posted on
10/03/2009 9:16:11 PM PDT
by
autumnraine
(You can't fix stupid, but you can vote it out!)
To: GOPJ
According to a letter advising the President, yes. They are in the negative as of September 30.
But of course Chicago getting the Olympics was more important...
8
posted on
10/03/2009 9:16:50 PM PDT
by
autumnraine
(You can't fix stupid, but you can vote it out!)
To: All
By the way, what are all those financial advisors on the radio saying now that the FDIC is out of money? I heard a few months back then soothing everyone’s fears by saying ‘Don’t worry about your money, the FDIC is insuring you up to a new level (can’t remember the increased amount) so you will be fine.” Makes me wonder if I shouldn’t forward that url showing the FDIC in the negative.
9
posted on
10/03/2009 9:18:29 PM PDT
by
autumnraine
(You can't fix stupid, but you can vote it out!)
To: Kartographer
10
posted on
10/03/2009 9:19:23 PM PDT
by
autumnraine
(You can't fix stupid, but you can vote it out!)
To: Kartographer
This is the scary part.
Pursuant to these requirements, staff estimates that both the Fund balance and the reserve
ratio as of September 30, 2009, will be negative. This reflects, in part, an increase in
provisioning for anticipated failures. In contrast, cash and marketable securities available to
resolve failed institutions remain positive.
11
posted on
10/03/2009 9:20:04 PM PDT
by
autumnraine
(You can't fix stupid, but you can vote it out!)
To: autumnraine
“Just wait until all those big farms in the San Joaquin Valley default because they have no crops from lack of water. To save a minnow. Well not only feel it in the financial industry, but in the grocery store prices too.”
Hell it’s worse than that, it’s not even a minnow;
it’s the Delta Smelt, a tiny non- native fish!
To: Kartographer
That’s what I’m reading except it’s worse. Hundreds of banks should already have been closed but FDIC is dragging their feet. You can guess why or why not... money, panic, overwhelmed and so on. Even credit unions are beginning to fold.
CIT is on the ropes again, talk of a VAT tax for needed revenue will kill any hope of a recovery just like a hike in interest rates would, IMF reports it is short of funds, another stimulus being talked about while there is already two unborn generations needed to payoff our debt as it stands now, RE ready for the next down leg....
...I wonder if people really understand what is about to happen?
13
posted on
10/03/2009 10:08:12 PM PDT
by
Razzz42
To: Kartographer
How long can they keep the shell game going? I had accounts at two banks that failed already... one of the many joys of living in Florida...
14
posted on
10/04/2009 8:56:01 AM PDT
by
GOPJ
(MSM BIAS: the most grossly obvious facts can be ignored when they are unwelcome. George Orwell)
To: autumnraine
If they’re broke - it really IS a house of cards... how long do you think we have?
15
posted on
10/04/2009 8:57:25 AM PDT
by
GOPJ
(MSM BIAS: the most grossly obvious facts can be ignored when they are unwelcome. George Orwell)
To: Kartographer
The news about failures here in Colorado (this wasn't the first), have gone largely unnoticed and underreported. I'm going to guess that things are the same elsewhere, and that most people simply have no idea.
A friendly reminder that there are ways to check the health of your bank:
How to determine your bank's financial health, Los Angeles Times (^)
16
posted on
10/04/2009 9:54:44 AM PDT
by
mountainbunny
(Mitt Romney: Would you buy a used car from this man?)
To: mountainbunny
17
posted on
10/04/2009 10:26:06 AM PDT
by
GOPJ
(MSM BIAS: the most grossly obvious facts can be ignored when they are unwelcome. George Orwell)
To: grellis; AdmSmith; Berosus; bigheadfred; Convert from ECUSA; dervish; Ernest_at_the_Beach; ...
The real stimulus plan is impeachment.
18
posted on
10/04/2009 4:53:30 PM PDT
by
SunkenCiv
(https://secure.freerepublic.com/donate/__Since Jan 3, 2004__Profile updated Monday, January 12, 2009)
To: Springman; sergeantdave; cyclotic; netmilsmom; RatsDawg; PGalt; FreedomHammer; queenkathy; ...
If you would like to be added or dropped from the Michigan ping list, please freepmail me.
19
posted on
10/04/2009 6:20:22 PM PDT
by
grellis
(I am Jill's overwhelming sense of disgust.)
To: grellis
Just reworked the home equity loan payments, w/Warren Bank, just hope we aren’t going to be treated like a ten year old boy at Michael Jacksons Ranch.
They were very good with us, understood, now who knows?
20
posted on
10/04/2009 6:29:15 PM PDT
by
Springman
(Rest In Peace YaYa123)
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